8 August 2016, Sydney, New York & London: Metamako, the leading specialist in deterministic network devices for the world’s financial institutions, announced today that it has expanded its team and appointed Kevin Covington CEO. Since the company’s launch at the end of 2013, Metamako’s presence worldwide has been increasing quickly and steadily. In 2015 it was listed in the KPMG and H2 Ventures’ top 50 Emerging Stars of global finance technology innovators.
Dr Dave Snowdon, founder and CTO of Metamako, says: “Metamako has come along in leaps and bounds since Charles Thomas, Scott Newham and I set it up in 2013. With more than 60 clients around the world, it’s now reached a size which requires the expertise and experience of someone of Kevin’s stature to help manage the growth and take the company to the next stage. Kevin has been working with us as an advisor since the end of 2014, but it’s now the right time for him to take on a more formal, extended role.” Snowdon adds: “Kevin has already made a huge contribution to the business and we are all very much looking forward to working together on scaling the business towards ever-greater successes.”
With a long career in the fintech industry, Covington has many years’ experience of growing and developing financial technology companies. He was one of the creators of the concept of co-location; in his previous position as CEO of ITRS Group he was instrumental in negotiating the sale of the company to one of the largest technology private equity firms in the world.
Kevin Covington, CEO of Metamako, says: “I’ve been working with Metamako in an advisory role, helping the business transition from a start-up to a rapidly-growing enterprise. Not only are we adding to our list of clients at an astonishing rate, we have also gone way beyond our original target market of predominantly HFT clients, to include sell-side firms, telcos and exchanges such as the ASX. We expect to double the size of the business this year, so it’s a phenomenal time for taking on the CEO mantle.”
In the short time since the company’s launch it has developed and released a number of market-leading network devices and opened offices in New York and London. Last year Metamako moved its headquarters and development into the Sydney-based Stone & Chalk fintech hub. Earlier this year Snowdon was named in Institutional Investor’s prestigious Fintech Top 40.
2015 was a busy year for forging links: a partnership with Westcon for global supply chain services and a collaboration with MACOM and its high-performance semi-conductors for Metamako’s next generation of switches.